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Affordable Housing Inventory and Demographic Shifts in East Broad, Columbus
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
East Broad, a neighborhood in Columbus, Ohio, has a diverse and growing population. The area has received significant investment in affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. There are 845 total units in LIHTC-funded projects, with 829 designated as low-income units. Based on the 2022 population of 45,570 and using the national average household size, the estimated number of housing units in the neighborhood is approximately 17,460. The LIHTC-funded affordable housing units represent about 4.8% of the estimated housing inventory in East Broad.
The LIHTC projects in East Broad have received $2,362,462 in tax credits, averaging approximately $2,795 per unit in federal funding. The neighborhood's affordable housing development spans from 1991 to 2003, with the majority of projects completed in the 1990s. The LIHTC-funded projects offer a variety of unit types, including 120 one-bedroom units, 377 two-bedroom units, 154 three-bedroom units, and 5 four-bedroom units. This distribution indicates a focus on accommodating small to medium-sized families in the affordable housing stock.
East Broad has experienced significant population growth over the past decade, increasing from 35,899 in 2015 to 45,570 in 2022, representing a 27% increase. The median income has generally trended upward, rising from $77,374 in 2015 to $83,185 in 2022. These changes may affect affordable housing needs in the area.
The racial composition of East Broad has become more diverse over the past decade. The percentage of white residents decreased from 63% in 2015 to 46% in 2022, while the Asian population increased from 3% to 12%. The Black population remained relatively stable, moving from 28% to 30%. This increasing diversity may influence the types of affordable housing needed in the neighborhood.
It is noteworthy that no new LIHTC projects have been completed in East Broad since 2003, despite the population growth and demographic changes. This could be attributed to various factors, including changes in local housing policy, market conditions, or the availability of alternative affordable housing programs.
East Broad's LIHTC-funded affordable housing inventory represents a small but significant portion of the neighborhood's estimated housing stock. The area experienced substantial affordable housing development in the 1990s and early 2000s, providing a mix of unit sizes to accommodate various household needs. The neighborhood has undergone population growth and increasing diversity over the past decade, but there have been no new LIHTC projects during this period. The changing demographics and rising median income suggest that the affordable housing needs of the community may be evolving, potentially warranting further analysis to ensure housing options align with current population trends and needs.
